Alpha Family Trust Takes $908,000 Position in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Alpha Family Trust purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,310 shares of the coffee company’s stock, valued at approximately $908,000.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. Allstate Corp boosted its holdings in shares of Starbucks by 43.0% in the first quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock worth $317,000 after buying an additional 1,042 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 2.5% in the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock worth $1,475,000 after buying an additional 401 shares during the last quarter. Catalytic Wealth RIA LLC boosted its holdings in shares of Starbucks by 6.0% in the first quarter. Catalytic Wealth RIA LLC now owns 5,710 shares of the coffee company’s stock worth $522,000 after buying an additional 323 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Starbucks by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company’s stock worth $312,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SBUX shares. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Get Our Latest Report on Starbucks

Starbucks Stock Down 0.2 %

NASDAQ SBUX opened at $98.42 on Friday. The company has a fifty day moving average of $96.75 and a two-hundred day moving average of $86.18. The firm has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 68.88%.

Starbucks Profile

(Free Report)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading

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